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AA Group's IPO
1.5 times subscribed Singapore, 30 August 2005 As at the close of the public offer at 12 noon on 29 August 2005, there were 288 valid applications for the 1.5 million offer shares available to the public. In total, these applicants applied for 8,817,000 shares, with application monies received amounting to approximately S$1.9 million. All of the 13.9 million placement shares (including 2.0 million shares reserved for the Group's management, employees, business associates and those who have contributed to the success of the Group) have also been fully taken up. Based on the total invitation size of 15.4 million shares, the IPO was approximately 1.5 times subscribed. Trading of AA Group's shares on the SGX-Sesdaq is expected to commence on a "ready" basis on 31 August 2005. Said Mr Jaimes Hsieh, AA Group's Executive Chairman and Founder: "We are heartened by the positive response to our IPO. We would like to assure our shareholders and investors that we will work even harder to forge a solid growth strategy to deliver greater value to our shareholders." "Going forward, our Group will continue to ride on the strong global demand for superior sound performance for a wide spectrum of digital, consumer electronic and other audio-related products that are continually being upgraded in terms of aesthetics and multi-functionality. All these create new and expanding markets for AA Group's high-precision loudspeaker parts." "Our product diversification strategy into high-precision automotive parts using the cold forging process - such as piston pins, steering system parts, braking system parts, gears, engine covers and shock absorbers -- will also take our Group's growth to a higher plane," Mr Hsieh added. UOB Asia Limited is the Manager of AA Group's IPO. The IPO is jointly underwritten by HL Bank and UOB Asia. AA Group is a venture-funded company having received investments from the ASEAN China Investment Fund L.P. ("ACIF"). ACIF is advised by UOB Venture Management Pte Ltd, the private equity/venture capital subsidiary of United Overseas Bank.
Corporate Profile AA Group produces and supplies high-precision cold forged loudspeaker parts, namely T-yokes, U-yokes and washers, to manufacturers of automotive and commercial audio devices, home audio-visual products and other consumer electronic products. Yokes and washers are key components of the magnet assembly in a loudspeaker which is critical in determining the acoustical quality of the sound system. The combination of the yoke, washer and magnet represents the existing core audio technology and is commonly referred to as "the heart of the loudspeaker". AA Group's customers include global names in the sound systems industry such as Blaupunkt, Bose and Pioneer. Blaupunkt, an internationally recognised manufacturer of audio and video products for automotives, is a major customer accounting for approximately 32% of the Group's sales in FY2004. The Group enjoys good relationships with its customers, with repeat customers accounting for approximately 99% of its sales last year. In addition to having ISO9002 and QS9000 certifications, the Group had, in 2004, obtained the ISO/TS16949:2002 quality certification - a widely-recognised common quality standard and registration scheme developed by the members of the International Automotive Task Force (IATF) and Japan Automobile Manufacturers Association, Inc. (JAMA) for suppliers to the automotive industry. By December 2006, most of the major car manufacturers in Europe and North America would require their suppliers to have this quality certification. For more information, please contact: August Consulting SNG Nora
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